Japan business mood improves

TOKYO: Japanese big manufacturers’ business confidence improved in the second quarter to hit a two-and-half-year high, a central bank survey showed, a sign solid global demand was helping the economy emerge from the coronavirus pandemic-induced doldrums.

Service-sector sentiment also turned positive for the first time in five quarters, suggesting that the economic recovery was broadening even as Japan struggles to contain a fresh wave of coronavirus infections.

The headline index for big manufacturers’ sentiment jumped to plus 14 from plus 5 in March, marking the fourth consecutive quarter of improvement and posting the highest level since December 2018, the Bank of Japan’s (BoJ) “tankan” survey for June showed yesterday.